CORPORATE NEWS

HMS Bergbau Signs Exclusive Offtake Agreement for Chrome Ore with South African Mining Company

• Offtake agreement with the publicly listed Mantengu Ltd. covers the entire purchase of chrome ore from the producing Langpan mine in South Africa
• Offtake agreement covers a minimum of 8 years
• The mine’s production capacity is approximately 40,000 tonnes of chrome ore per quarter
• Global demand for chrome is steadily increasing

Berlin, 21 May 2026: HMS Bergbau AG (ISIN: DE0006061104, WKN: 606110, “HMS”), a leading independent commodities trading and marketing company from Germany, has entered into an exclusive offtake agreement with South African mining company Mantengu Ltd. for its Langpan mining project in South Africa. The Langpan mine produces around 40,000 tonnes of chrome ore concentrate per quarter with the necessary capacity and infrastructure to increase production to 70,000 tonnes per quarter under the cooperation with HMS. With this contract, HMS Bergbau secures the entire production volume of the mine for a minimum of 8 years acting as the exclusive global principal marketer of the chrome ore concentrates produced from the mine. This agreement replaces a subsidiary of the energy company RWE AG as the distributor of chrome ore from the Langpan project.

The global market for chrome ore is estimated at USD 4.5 billion. An annual growth rate of 5.5% is forecast over the coming years. Chrome ore is the primary raw material for chrome, which is a key material in the manufacture of stainless steel, alloy steels, and other metal alloys. Additionally, chrome is a fundamental component in the production of various industrial products, chemicals, pigments, and is also used in aerospace industries. According to the United States Geological Survey (USGS), global chrome ore production is estimated at around 30 million tonnes per year. The steady and significant market growth is driven by increasing demand for stainless steel and batteries in electric vehicles as well as utility-scale batteries, where chrome is also utilised.

Dennis Schwindt, CEO of HMS Bergbau: "We are very pleased to have concluded this long-term exclusive partnership with Mantengu Ltd. This expands our activities in trading and marketing materials into the growing chrome ore market. It is another important step in our diversification strategy, which is progressing very well as planned. Through this agreement, we secure access to a vital raw material that plays an essential role in metal production and many other sectors."

About HMS Bergbau AG:

HMS Bergbau AG is one of the leading independent commodity trading and marketing companies headquartered in Germany. Its core business is the international trade in commodities such as coal products, liquid fuels, ores, cement and other products as well as increasingly also the production of commodities within the framework of majority and minority holdings in mining companies. Its customers include renowned international industrial companies as well as energy traders and producers, who are supplied worldwide and on schedule. With activities spanning Asia, Africa, Europe, North and South America, HMS Bergbau AG also has high-quality commodity reserves and an extensive global network.

Company contact:
HMS Bergbau AG
An der Wuhlheide 232
12459 Berlin
T.: +49 (30) 65 66 81-0
F: +49 (30) 65 66 81-15
Email: info@hms-ag.com
URL: www.hms-ag.com

HMS Investor Relations contact:
edicto GmbH
Doron Kaufmann / Ralf Droz
T: +49 69 905 505 53
E-Mail: hms-bergbau@edicto.de